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Should you 'freeze' your credit report after Equifax's security breach?

In light of Equifax's security breach, which exposed million's of American's data, what are your options to protect yourself?

A lot of people are choosing to "freeze" their credit report. It keeps scammers from opening new credit in your name. Though, it can also cost time and money. (Some companies charge a fee to "freeze" credit.

It seems the only thing Equifax has done right so far, is finally removing their charge to freeze your credit report. That should have been a no brainer.